- Written by:
- Elephant FX Editorial Team
- Published:
- Updated:
Written from Elephant FX product documentation and the official sources cited below.
Short answer
Log in to a verified Elephant FX account, open Transfer / Payout, choose the bank and enter the 10-digit account number, check the name the bank returns, then confirm the amount, fee and total debit before you submit. Only a Completed order means the payout has been made; the receipt is then available in Orders.
Who this applies to
- Individuals or businesses with completed verification and enough NGN balance.
- Recipients with a Nigerian bank or mobile wallet account (10-digit account number).
- Per-payout and daily limits depend on your verification level and security review; you can see them after logging in.
Steps
- Log in on the web or app and open Transfer / Payout.
- Choose the recipient bank and enter the 10-digit account, or paste the transfer details into the quick-fill box.
- Compare the bank-returned account name with your contract, invoice or the recipient's details; stop if they do not match.
- Enter the amount and check the fee and total debit shown on screen.
- Confirm with your payment PIN or Google Authenticator.
- Follow the status in Orders and download the receipt once it shows Completed.
What the statuses mean
Processing / Under review: the payout was submitted and is in progress — do not submit it again.
Completed: the money has been paid and you can share the receipt.
Failed or Rejected, funds returned: the amount and fee are back in your wallet; check the reason before trying again.
Why the name check comes first
Nigerian instant interbank transfers let the sender see the account name before paying. That name is the last check against a mistyped number or an impersonated recipient.
Risks and limits
- A completed payout usually cannot be reversed; recovering a mistaken payment depends on the receiving bank and the recipient.
- If the page stalls, refresh Orders to see whether it was submitted before trying again, to avoid paying twice.
- A processing order is not proof of payment; rely on the final status and receipt.
- Anyone asking for your codes, payment PIN or authenticator digits is attempting fraud.
Sources
- NIBSS Name Enquiry · Nigeria Inter-Bank Settlement System
- NIBSS Instant Payment (NIP) · Nigeria Inter-Bank Settlement System
Related
General information about using Elephant FX, not legal, tax or investment advice. Availability, limits, fees and timing depend on verification, review and the details shown in your account.